Solar power tariffs in India at an all time low of Rs 2.44 per unit for Bhadla Phase-III Project

From the highs of Rs 12-14 a unit just two years back, solar power tariffs in India have fallen to a low of Rs 2.44 per unit in the bidding for Bhadla Phase-III Solar Power Park in Rajasthan, union minister of state for power, coal, renewable energy and mines minister Piyush Goyal said.

In a bidding conducted by the Solar Energy Corporation of India (SECI) for the 500-Mw Bhadla solar power park in Rajasthan, ACME emerged as the lowest bidder and won the top slot by quoting Rs 2.44 a 200 MW unit. ACME’s bid was closely followed by Japan’s SoftBank Energy with Rs 2.45 for 300 MW.

Just two days ago, for a 250-MW segment of the park developed by Adani Power, South African company Phelgan Energy Group and Avaada Power Group, promoted by Vineet Mittal’s Welspun Energy, quoted Rs 2.62 a unit. SoftBank Energy quoted a litlle less at Rs 2.63 a unit.

The tariff in Bhadla has been fixed for 25 years with no escalation and the bidders have sought no viability gap funding from the government, officials said.